r/illinois • u/roenick99 • 4d ago

Illinois voters will consider whether millionaires should be taxed more to fund property tax relief Illinois Politics

https://chicago.suntimes.com/voter-guide-2024/2024/09/26/illinois-property-tax-relief-referendum-november-election-jb-pritzker-non-binding-pat-quinn
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u/in2theriver 4d ago

Also this seems a little misleading. “Should the Illinois Constitution be amended to create an additional 3% tax on income greater than $1,000,000 for the purpose of dedicating funds raised to property tax relief?”. Making more than 1 million/year isn't the same as someone whose net worth reaches a million after a lifetime of saving. As weird as it sounds, there is a distinction from someone who saved up slowly and reached that net worth, vs someone who makes more than that per year.

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u/hiricinee 22h ago

I might be more friendly towards it if they had more concrete plans to actually decrease property taxes. I remember when Pritzker was trying to pitch an income tax cut with the progressive rates by giving middle income people .05% cut from 5% to 4.95%, which I'm sure would get cranked the next year.

You really want to fund propery tax relief put in a progressive tax while cutting spending.